VWO vs SPY
Comparison between VANGUARD EMERGING MARKETS STOCK INDEX FUND ETF SHARES (VWO, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed VWO, delivering a return of +13.2% compared to +5.2%
VWO vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
VWO
$163B
Winner
SPY
$784B
Expense Ratio
Winner
VWO
0.06%
SPY
0.09%
Max Drawdown
VWO
68.28%
Winner
SPY
56.47%
Sharpe Ratio
VWO
1.33
Winner
SPY
1.54
5Y Beta
Winner
VWO
0.73
SPY
1.00
P/E Ratio
VWO
N/A
SPY
27.62
Forward P/E
VWO
N/A
SPY
21.11
5Y Dividends CAGR
Winner
VWO
9.54%
SPY
6.00%
5Y EPS CAGR
VWO
N/A
SPY
25.30%
Debt to Equity
VWO
N/A
SPY
31.11%
P/S Ratio
VWO
N/A
SPY
3.49
P/B Ratio
VWO
N/A
SPY
5.30
VWO vs SPY - Holdings Comparison
VWO and SPY have 0 common holdings. Overlap is 0.00%
VWO's top 25 holdings weight is 1.68%. SPY's top 25 holdings weight is 51.24%.
| Rank | VWO | SPY |
|---|---|---|
| #1 | PDD HOLDINGS INC ADR (PDD) - 0.79% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | YUM CHINA HOLDINGS INC (YUMC) - 0.20% | APPLE INC (AAPL) - 6.81% |
| #3 | ANGLOGOLD ASHANTI PLC (AU) - 0.13% | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | KE HOLDINGS INC ADR (BEKE) - 0.13% | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | TENCENT MUSIC ENTERTAINMENT GROUP ADR (TME) - 0.10% | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | FULL TRUCK ALLIANCE CO LTD ADR (YMM) - 0.09% | BROADCOM INC (AVGO) - 2.77% |
| #7 | KANZHUN LTD ADR (BZ) - 0.06% | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | ITAU UNIBANCO HOLDING SA ADR (ITUB) - 0.05% | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | CHUNGHWA TELECOM CO LTD ADR (CHT) - 0.04% | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | BANCOLOMBIA SA ADR (CIB) - 0.03% | TESLA INC (TSLA) - 1.76% |
| #11 | DR REDDY'S LABORATORIES LTD ADR (RDY) - 0.03% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | STATE BANK OF INDIA DR (SBKFF) - 0.03% | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | N/A | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | N/A | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | N/A | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | N/A | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | N/A | VISA INC CLASS A (V) - 0.87% |
| #18 | N/A | INTEL CORP (INTC) - 0.85% |
| #19 | N/A | WALMART INC (WMT) - 0.82% |
| #20 | N/A | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | N/A | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | N/A | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | N/A | CATERPILLAR INC (CAT) - 0.68% |
| #24 | N/A | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | N/A | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 12 | 505 |
VWO vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
VWO
+0.76%
SPY
-1.37%
3M
VWO
+10.46%
Winner
SPY
+12.22%
6M
Winner
VWO
+10.67%
SPY
+7.20%
1Y
Winner
VWO
+27.00%
SPY
+23.58%
5Y(CAGR)
VWO
+5.25%
Winner
SPY
+13.19%
10Y(CAGR)
VWO
+8.34%
Winner
SPY
+15.12%
Max(CAGR)
VWO
+7.17%
Winner
SPY
+8.44%
VWO vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | VWO | SPY |
|---|---|---|
| 2026 | +8.19% | +7.95% |
| 2025 | +25.92% | +18.00% |
| 2024 | +11.89% | +25.59% |
| 2023 | +8.10% | +26.72% |
| 2022 | -18.57% | -18.64% |
| 2021 | +0.83% | +30.52% |
| 2020 | +12.51% | +17.28% |
| 2019 | +20.22% | +31.09% |
| 2018 | -16.21% | -5.24% |
| 2017 | +30.06% | +20.78% |
| 2016 | +15.49% | +13.59% |
| 2015 | -14.83% | +1.31% |
| 2014 | +3.56% | +14.56% |
| 2013 | -6.87% | +29.00% |
| 2012 | +15.81% | +14.17% |
| 2011 | -19.55% | +0.85% |
| 2010 | +15.52% | +13.14% |
| 2009 | +67.34% | +22.67% |
| 2008 | -52.35% | -36.25% |
| 2007 | +38.84% | +5.32% |
| 2006 | +27.38% | +13.85% |
| 2005 | +25.70% | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
VWO vs SPY Drawdown Comparison
The maximum drawdown for VWO was -67.11%, occurring on Nov 20, 2008. Recovery took 2476 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current VWO drawdown is -3.07%. The current SPY drawdown is -3.18%.
| Rank | VWO | SPY |
|---|---|---|
| #1 | -67.11% Oct 31, 2007 - Aug 31, 2017 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -36.39% Jan 26, 2018 - Nov 16, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -34.30% Feb 17, 2021 - Jun 26, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -25.99% May 9, 2006 - Dec 4, 2006 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -18.05% Jul 23, 2007 - Sep 21, 2007 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -11.61% Feb 22, 2007 - Apr 3, 2007 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -11.17% Feb 25, 2026 - Apr 17, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -11.00% Sep 30, 2005 - Nov 18, 2005 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -9.79% Mar 10, 2005 - Jul 11, 2005 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -6.63% Feb 1, 2006 - Apr 3, 2006 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -5.67% Jun 2, 2026 - Jun 22, 2026 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -5.39% Jan 3, 2007 - Jan 24, 2007 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -4.98% Jan 21, 2021 - Feb 5, 2021 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -4.95% Oct 18, 2007 - Oct 26, 2007 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -4.84% Oct 29, 2025 - Jan 2, 2026 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between VWO and SPY is 0.89 which considered as a strong positive correlation - the stocks tend to move together.
0.89
-101
Dividend Comparison (1999 - 2026)
VWO vs SPY dividend yield comparison.
| Year | VWO | SPY |
|---|---|---|
| 2026 | 0.12% | 0.50% |
| 2025 | 2.79% | 1.07% |
| 2024 | 3.20% | 1.21% |
| 2023 | 3.52% | 1.40% |
| 2022 | 4.11% | 1.65% |
| 2021 | 2.63% | 1.20% |
| 2020 | 1.91% | 1.52% |
| 2019 | 3.23% | 1.75% |
| 2018 | 2.88% | 2.04% |
| 2017 | 2.30% | 1.80% |
| 2016 | 2.52% | 2.03% |
| 2015 | 3.26% | 2.06% |
| 2014 | 2.86% | 1.87% |
| 2013 | 2.73% | 1.81% |
| 2012 | 2.19% | 2.18% |
| 2011 | 2.37% | 2.05% |
| 2010 | 1.69% | 1.80% |
| 2009 | 1.33% | 1.95% |
| 2008 | 5.00% | 3.02% |
| 2007 | 3.78% | 1.85% |
| 2006 | 3.46% | 1.73% |
| 2005 | 3.54% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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